Personal Life & Health:
Business Overhead Insurance
If you own a small business, what would happen to it if you became disabled and unable to work for a period of time? Business Overhead Insurance provides overhead expense reimbursement protection. This allows small businesses to meet everyday expenses in the event that the owner becomes disabled. Business Overhead Insurance keeps the business on its feet until the owner can return to work, as well as allows time for decisions regarding the business’ future to be made.
Who needs Business Overhead Insurance?
If you are a self-employed professional or a small business owner with less than five employees, consider Business Overhead Insurance. This will assist you in:
- Covering the costs of fixed expenses and protect your most important assets, in the event you become disabled. These expenses include employee salaries, loans, property taxes, rent, utilities, and other fixed expense items
- Retaining key employees and keeping creditors and suppliers confident in your business while you prepare for your return
- Finding replacement professionals or owners to help in continuing the value of your business
- Finding an orderly dispersal or sale of your business, which is tax deductible
With Business Overhead Insurance, you can concentrate on recovery and not worry about the financial stability of the business.